Bitcoin Forum

I just surfed through internet and found lots of cloud miners. But i feel all of them are scams :-\ ???. Or the paid ones may be real. want to know the truth ::)

Many currencies claim to be miners of the cloud, but also free miner, looks like a scam. Mining still need hardware.

A good question is: "why would cloud mining companies sell to us if they could just mine for themselves?"

True. But there should be something true in the paid miners. Otherwise they should be punished.

Most people that invest in cloud mining lose money and call it a scam.while actually they simply underestimate the increases of  difficulty and the maintenance fees that swallow up all of the profit and make it almost impossible to make profit.

Yes, 99.99% of them are scam, even the paid ones. Earlier there used to be a lot of these, but gradually they have become less as most people have understood that you can only lose money and not make via these cloud mining sites. Although I guess there 2-3 genuine ones also, like genesis, but they require a lot of funds and time. Better to hold or trade your cryptos than risk them in long term contracts.

That question came to my head too.
The only explanation I can imagine is that they use money from renting for buying new equipment and for increasing their profits.

But is there a way to identify the true miners? And all them are not profitable due to the maintenance fees ad other problems?

Yes, almost most of the cloud mining sites are a scam and they will share some percentage of the investment we do. I think it is rev share completely based on the investment they got, you will get fewer returns compared to trading.

Don't waste money on cloud mining sites, mostly they are hyips which is worst kind of ponzi because they are pretending to mine but the truth is they are not mining anything, they are just using money from former investors to pay later investors.
If you invest in legit cloud mining sites you won't profit much because difficulty is raising each day.

I think almost all are scams or they are turning into scams eventually.
For me is more profitable and relaxing to invest in good ICO's in pre-sale phase to get a maximum bonus.

sad to say but you are correct. 95% of cloud miner out there is scam, especially those who offer free hash to start. I suggest don't waste your time with them.

Most of them are Scam, but not all.
There are some good cloud mine service out there.

But is it still profitable by cloud mine is another question nowaday too.

most sites providing cloud-based mining services are scammers, they offer very large profits and do everything to give them their money. as far as I know, in the world there are not more than 10 real companies that really are engaged in cloud mining and pay out money. These are very large companies and the profitability in them is not at all big

Cannot believe that with google people still need to ask this question about cloud mining. Or is Google results now all paid that people cannot see the difference between actual advice and shill search results?

After you dig past the HYIPs and ponzis to find legitimate cloud mining companies, you find maybe 5 very old ones with good histories. And bad ones. Legitimate ones pay you for sure, but the question is, can you earn enough to make profit before your cloud contracts expire? I tell you this: no. Now you can thank me for giving you the answer you would have found yourself after research or months of trying, in just under one minute.

of course, forum is still the best way to find an answer because answers here are actuall and trully based on the users experience. this is also a crypto related forum and majority of users here have a good experience in crypto related stuffs when compared to random forums and othed sites that appears in google search.

Now , ill answer this question based on my own experience regarding on cloud mining. ive been on several cloud mining sites before and most of them did not pay me. most of them are also good to be true and promises to pay you a good reward but in the end , they are actually a scam.

You hit it bro! Cloudmining are pure ponzi scams so don't bother to invest in that kind of investment scheme since all things rotating at that investment option is totally on wreck state. Just find more better investment sites to invest with since cloudmining will be just a waste for your time and money. ICO's and Tradings are much far better than that thing so choose for the best and don't fall for to good to be true things. 

I am convinced that the majority of companies providing cloud-mining services are scammers, cloud mining is not profitable business, if you have great computing power, then why should you give them to other people if you can earn and earn money yourself